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Singapore: APEX holds Fuel Oil Futures Cocktail Reception

APEX will help Singapore establish itself as a leading commodity and financial derivatives trading centre, says CEO.

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Singapore-based derivatives exchange Asia Pacific Exchange (APEX) on Thursday (23 May) held its Fuel Oil Futures Cocktail Reception at the JW Marriot South Beach hotel; the event was attended by more than 500 guests.

APEX launched its Fuel Oil Futures Contract (FO Contract) on 11 April, 2019. The Monetary Authority of Singapore (MAS) regulated exchange is Singapore’s third derivatives exchange.

To date, the APEX FO Contract is trading approximately 35,000 lots (350,000 mt) per day with open interest of close to 3,000 lots (30,000 mt) since launch.

Eugene Zhu, CEO of APEX, also the founder of China Financial Futures Exchange (CFFEX) and Dalian Commodity Exchange (DCE), believes APEX will help Singapore establish itself as a leading commodity and financial derivatives trading centre.

“APEX Fuel Oil Futures Contract is our first foray into the energy industry and our foremost product which we will spend the most time and effort in making it a success,” he said in a keynote speech.

“Our FO contract is designed with few exclusive features to differentiate itself and fill in the gap for the current market. Firstly, it provides continuous trading and price transparency in the market, with trading hours (10 hours) covering various exchanges and paper market. This is ideal for arbitrageur and speculator to trade when opportunities arise.

“The contract is denominated in 10MT/contract, priced in USD, to enable all types of investors (big and small) to participate with lesser capital outlay. We believe with smaller contract size it allows us to reach out to broader clientele to capture sufficient liquidity.

“Lastly, it adopts the physical delivery settlement mechanism, which is aligned with the trading practices in the spot market while utilising APEX Fuel Oil Warehouse Receipt (AFOWR) to establish a standardized Warehouse System.”

Lim Hwee Hua, Chairman of APEX, the former Minister in the Office of the Prime Minister of Singapore and Second Minister for Finance and Transport, was pleased with the development.

The APEX Fuel Oil Futures Contract will help market participants form a new pricing benchmark for fuel oil trades and play an active role in providing market price discovery and arbitraging opportunities, she says.

“This will reinforce Singapore's leading position for price discovery of oil in Asia, and the world’s largest trading port for bunker fuel oil,” stated Lim.

“Henry Ford once said: ‘Coming together is a beginning, staying together is progress, and working together is success.’

“In the same spirit, we look forward to many more years of successful partnership with every one of you. Thank you once again for your support and I wish you all good health and a good evening ahead.”

Related: Singapore: Asia Pacific Exchange officially launches 380 cst fuel oil futures contract

Photo credit: Asia Pacific Exchange
Published: 3 June

 

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Business

IBT Bunkering & Trading appoints Kevin Döhmen to lead Singapore expansion

Döhmen will lead the new Singapore office, with responsibility for managing and developing the operation and strengthening relationships with customers and partners.

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IBT Bunkering & Trading appoints Kevin Döhmen to lead Singapore expansion

Hamburg-based marine fuels firm IBT Bunkering & Trading on Wednesday (12 August) said it has appointed Kevin Döhmen as Executive Vice President to lead the company’s new Singapore office. 

Manifold Times previously reported the company announcing that it is opening its doors in Singapore and will be running a trading desk in the city-state after trading bunkers out of Hamburg since 1976.

The company said Kevin Döhmen will lead the new Singapore office, with theresponsibility for managing and developing the operation and strengthening relationships with customers and partners.

IBT said the Singapore office represents an important first step in strengthening its presence in Asia.

“At the same time, we are actively exploring further opportunities to expand our activities and establish new partnerships in this key maritime hub,” the company said. 

Döhmen said: “Singapore is the heartbeat of global bunkering. Bringing IBT’s Hamburg roots — 50 years of them — onto the ground in this hub is a real privilege, and I couldn’t be more ready for it.”

IBT said it will maintain the service approach established through its Hamburg operations while building its activities in Singapore.

The company described the move as bringing together its Hamburg roots and Singapore presence through a global bunker network. 

Related: German firm IBT Bunkering & Trading establishes Singapore presence, adds second trading desk

 

Photo credit: IBT Bunkering & Trading
Published: 13 August, 2026

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Bunker Alerts

Low flashpoint found in Indonesia bunker fuels, alerts Maritec-Naias

Firm tested eight bunker samples representing LSMDO and B40 fuel grade from vessels that took fuel oil /bunkered in Indonesia ports, which indicated flashpoints as low as 39.5°C.

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RESIZED Shaah Shahidh on Unsplash

Bunker fuel testing and marine surveying business Maritec-Naias on Wednesday (12 August) issued an alert regarding bunker samples from vessels that took fuel oil/bunkered in Indonesia showing flashpoints as low as 39.5°C:

During the period of 21 July to 04 August 2026, Maritec-Naias tested eight bunker samples representing Low Sulfur Marine Distillate Oil (LSMDO) and B40 fuel grade from vessels that took fuel oil /bunkered in Indonesia ports, which indicated Flashpoints as low as 39.5°C.

All eight fuel samples tested were sourced from a single supplier.

Regulatory Implications:

Based on the results of the eight samples tested, the fuels do not comply with the minimum flashpoint requirement of 60 °C set by SOLAS and ISO 8217.

As per SOLAS requirements, the minimum flashpoint of any fuel carried in the tanks of a ship should be not less than 60 °C (with exception of fuel for lifeboats, which can be grade DMX with a flash point min of 43 °C).

ISO 4259 interpretation for tested flashpoint temperature is not taken into consideration here as the safety of onboard crew and vessel is of higher precedence.

Since 01 May 2024, it has been a MARPOL Annex VI requirement that the Bunker Delivery Note (BDN) includes either the actual flashpoint of a fuel as supplied or a declaration that its flashpoint has been determined as being at or above 70°C.

From 1 January 2026, SOLAS amendments clarified that the flashpoint requirement applies to fuels, which were specifically intended to have a flashpoint not less than 60°C as required under SOLAS II‑2/2.1.1 These amendments now align with MARPOL by requiring flashpoint details to be recorded on the BDN. Additionally, prior to bunkering, suppliers must provide the ship’s representative with a signed declaration confirming that the fuel meets the SOLAS flashpoint standard.

MARITEC-NAIAS RECOMMENDATIONS

When ordering fuels from Indonesia it is advised to insist on getting the actual flash point values from the supplier. If your vessel has bunkered a low flashpoint fuel it is prudent to observe/implement the precautions below:

  • Flame screens on tank vents should be maintained in good condition and there should be no sources of ignition in the vicinity of the vents. This will assist in safe natural ventilation of volatile components in the fuel.
  • No Smoking, no naked flame and no hot work must be allowed at any areas near to tank air vents.
  • Send additional tank(s) samples upon arrival in port to check the fuel properties and flash point results especially if there has been co-mingling of fuels in bunker tanks
  • If the vessel is out at sea, it may be possible to obtain dispensation from your Flag State Administration up to the next arrival port.
  • Put the supplier on notice promptly and notify your P&I club.

 

Photo credit: Shaah Shahidh on Unsplash
Published: 13 August, 2026

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Methanol

China: Xiamen issues safety guidelines for methanol bunkering operations

New guidelines establish safety requirements across the full methanol bunkering process, supporting the expansion of green marine fuel supplies at Xiamen Port.

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Xiamen, China

Xiamen Free Trade Zone on Monday (10 August) said its Administrative Committee recently jointly issued the Safety Guidelines for Marine Methanol Fuel Bunkering in Xiamen Waters with Xiamen Port Authority and Xiamen Maritime Safety Administration, establishing a framework for methanol bunkering operations in the port.

The guidelines are the first safety operating standard in Fujian province specifically covering marine methanol fuel bunkering. They apply to methanol bunkering operations conducted by bunker vessels in Xiamen waters and set out safety requirements covering the entire operation, from preparation through completion.

The guidelines specify requirements for bunkering companies, equipment and materials used on bunker vessels, hose inspection intervals, personnel certification and personal protective equipment.

They also require operators to conduct dedicated risk assessments and prepare emergency response plans before operations begin. During bunkering, operators must maintain continuous monitoring and comply with specified weather restrictions. After completion, pipelines must undergo procedures including purging and inerting.

Xiamen Port has previously carried out ship-to-ship bunkering of biofuels and LNG. The new guidelines provide a regulatory framework and operational basis for methanol bunkering and are intended to support the safe and orderly conduct of such operations.

The move is also expected to help Xiamen Port expand its market and bunkering capacity for green marine fuels. 

 

Photo credit: Woo Winter on Unsplash
Published: 13 August, 2026

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